Assignment of Charter definition

Assignment of Charter means the assignment between the Owner and the Indenture Trustee, as amended from time to time in accordance with the terms thereof, pursuant to which the Owner collaterally assigns to the Indenture Trustee all of the Owner's right, title and interest in, to and under the Initial Charter to secure its obligations under the Indenture.

Assignment of Charter has the meaning given to such term in Clause 48.15(b) (Restrictions on sub-chartering, appointment of managers etc.);

Assignment of Charter means the Assignment of this Charter by Owners as collateral for the Owners obligations to the Lender.

Examples of Assignment of Charter in a sentence

• This Secured Note is one of the Secured Notes issued by the Owner Trust pursuant to the terms of the Trust Indenture, Assignment of Charter and Head Lease and Security Agreement, dated as of December 5, 1997 (the "Indenture"), between the Owner Trust and State Street Bank and Trust Company, not in its individual capacity but solely as Indenture Trustee thereunder, for the Holder of this Secured Note and the Holders of all other Secured Notes Outstanding thereunder (the "Indenture Trustee").

• We further confirm that the terms of the Assignment of Charter have not been varied or modified and that the terms of the Assignment of Charter will not after the date hereof be varied or modified without your prior written consent.

• Payments to you shall not be subject to any right of set-off or defense by way of counterclaim or otherwise which the undersigned may have against the Issuer or any entity substituted for it other than under the Assignment of Charter and all payments once made to you will be final, and once paid we will not, for any reason whatsoever, seek to recover any such payment made to you by virtue of the Assignment or this Letter of Consent.

• So long as the Assignment remains effective, we hereby agree that, upon your notification to us of the occurrence of an Event of Default under the Term Indenture referred to in the Assignment, we shall pay any and all sums which we are legally obligated to pay to the Issuer or otherwise as stated in and according to the Assignment of Charter directly to JPMorgan Chase Bank, NA., ABA # 000000000 for credit to Acct.

• We confirm that the terms of the Assignment of Charter remain in full force and effect and constitute the entire agreement between the parties thereto with respect to the Charter and that the Issuer is not presently to our knowledge in breach of the terms of the Assignment of Charter.

More Definitions of Assignment of Charter

Assignment of Charter means an assignment of charter substantially in the form of Exhibit H .

Assignment of Charter dated as of December 1, 1996 (the "Assignment"), between Golden State Petro (IOM I-A) PLC (the "Owner") and United States Trust Company of New York (the "Indenture Trustee"), not in its individual capacity but solely as trustee under the Indenture (the "Indenture"), dated as of the date hereof, among the Owner, the Indenture Trustee, Golden State Petro (IOM I-B) PLC ("Golden State Petro B") and Golden State Petroleum Transport Corporation ("Golden State Petroleum"), as agent for the Owner and Golden State Petro B.

Assignment of Charter has the meaning ascribed thereto in Clause 11.01;

Assignment of Charter means that certain Assignment of Bareboat Charter Agreement dated as of December 20, 2000, executed by Borrower in favor of Lender assigning all of Borrower's rights under the Charter Agreement.

Assignment of Charter means, with respect to a Vessel, the assignment between a Borrower and the Agent (on behalf of the Lenders), as amended, supplemented, restated, renewed and otherwise modified from time to time, together with any documents contemplated thereby or executed pursuant thereto, whereby such Borrower assigns to the Agent (on behalf of the Lenders) all of its right, title and interest in, to and under each Charter to such Vessel.

Assignment of Charter has the meaning given such term in the definition of Collateral and Guaranty Requirements.

Assignment of Charter means an assignment of charter substantially in the form of Exhibit H.